Korean Won Strengthens as Singapore GDP Spurs Stock Inflows

South Korea’s won strengthened for the first time in three days after Singapore reported record economic growth and a debt sale by Greece eased concern Europe’s debt crisis will derail a global recovery.

The Kospi index rose to a two-year high as overseas investors made their biggest net purchases of Korean shares in 2010 after Intel Corp., the world’s largest chipmaker, yesterday reported its highest-ever second-quarter sales. Stock benchmarks rallied across Asia after Singapore’s gross domestic product increased 18.1 percent in the first half of 2010 and Greece sold bonds at a lower rate than the country pays for European aid.